Lifestyle

Boatbound: Airbnb of Boats Makes Getting on the Water Easy

Eric Collins spent three years watching diners dock their boats at Sam's Anchor Cafe, the waterfront establishment where he works on San Francisco Bay, but could never afford to buy his own — until now. The San Franciscan purchased a Chris Craft Launch 25 three weeks ago, only after learning that he could subsidize the cost on a peer-to-peer (or as the company calls it, "pier-to-pier") boat-sharing service.

Boatbound, essentially an Airbnb for boats, has been steadily growing since its launch in 2012. The site is fresh off a recent financing round that raised $2.5 million, and lists nearly 2,000 boats — a far cry from the approximately 20 it started with. But perhaps more importantly than its financial success, Boatbound is making boating more accessible to the public.

"I think there was a lot of latent demand for this," Aaron Hall, Boatbound founder and CEO, told Mashable. "People wanted a boat, they just couldn't figure out how to do it."

The general premise is one we've seen before: Renters can book boats (for a fee) that owners have listed on the site. Instead of staying in a loft in SoHo or an English flat, however, wannabe Captain Jack Sparrows can spend time on the open waters without breaking the bank on a craft of their own. Listings include prices set by owners, photos, descriptions, a calendar of available dates and a space for renters to post reviews of different listings. The cheapest boats on the site are kayaks and canoes that go for about $25 a day. The most expensive, at $18,000 a day, is the 122-foot yacht that was featured on The Lonely Island's 2009 "I'm On a Boat" video. Yes, you, too, can be a on a boat.

"It's really going to make it a lot easier and a lot [more] stress free," Collins told Mashable. "I get to spend time doing something I enjoy and helping other people, too."

Cost and time are two of the biggest deterrents to boat ownership. The price of the initial purchase can vary wildly depending on the type of boat (not all of them are hundreds of thousands of dollars). But when you factor in things such as gasoline, storage and general repairs — which can take huge chunks of time out of your day — renting a boat only when you want to use it may seem like the preferable option. Boatbound can also offset costs for owners, much like renting out a vacation home on weekends you're not there. Plus, it's an easy way to test out a boat you may be thinking of purchasing.

"Buying a boat is really tough," Scott Croft, a spokesman for the Boat Owners Association of the United States, told Mashable. "I think this helps people who may be on the fence of boat ownership. It lets them test the waters."

Hall came up with the idea for Boatbound out of personal necessity. He grew up boating, but on a trip to visit family in Texas two years ago, he couldn't find a boat available for rent despite the many that were sitting unused at a nearby marina. His team in Palo Alto, Calif. was working on a wedding-related startup at the time, but changed course once Hall pitched his idea for a boat-sharing service. The biggest hurdle was insurance: It took six months to set up a system given that boats aren't as standardized as vehicles such as cars, for which there is an established rental industry.

There are more than 12 million registered recreational boats in the United States, according to a 2012 National Marine Manufacturers Association study. However, the average boat is only used for approximately 17 days during the year, according to a 2011 United States Coast Guard study.

You don't need any experience to use Boatbound, but some states have stricter regulations than others about licenses and other qualifications. Sometimes owners, such as Tom Cavers in San Francisco, will teach renters about their craft before handing it over, especially if the newly minted seafarers don't have much experience. Some boats can now be booked with a certified captain if renters simply want to enjoy the ride.

"The first time someone rents, we spend about half an hour on the boat going through everything, how it works, talking through sailing on San Francisco Bay and where they're going to go," Cavers told Mashable.

These interactions can create long-lasting friendships. Teresa Fitzsimmons, who owns a boat in south Florida, said she still keeps in touch with almost everyone who has rented her craft. Fitzsimmons' partner even made a business connection through Boatbound; she works for a large healthcare company, and it just so happened that a major player in the industry's San Francisco market rented their boat. This focus on community is part of Hall's plan for Boatbound. There are events such as local meetups and owner-appreciation days, he said, adding that the company is working on more ways to enhance the boating experience.

Similar services include Incredibule, GetMyBoat and Cruzin, among others, but according to Croft, Boatbound appears to be leading the pack. The site has raised $4.2 million in total to date. Hall said its most recent round of funding will be used to expand its reach within the United States and internationally, as well as to focus on existing markets. Currently, boats can be posted from anywhere in the world, but listings are still concentrated in a few areas such as San Francisco and south Florida.

To date, Boatbound has had $3.5 million in planned bookings, according to a press release. It has also been building relationships with organizations such as BoatUS, the American Sailing Association and the Brunswick Corporation. The site itself underwent a recent redesign to make it more accessible to mobile users since 30% to 40% of people access it on the go, according Hall.

"It amazed me how quickly people wanted to make this a great thing," Hall said. "We wanted to make people feel like they were a part of something, and I think we've done that."

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